July 05, 2008

Nisshin Steel to cut SS output by 40% in August and September

It is reported that Japan’s Nisshin Steel has reduced the nickel series stainless output by 40% for steel making and by 30% for cold rolling at Shunan works in August and September as compared with July 2007.

The report added that the Nisshin Steel cuts the order receipt of cold rolled sheet from distributors by 40% to 50% since April under domestic oversupply condition and the rejected the all of order since June.

As per report, Nisshin Steel decided the steel making output reduction to reduce the distributors' inventory, for the first time since July to September 2005.